Conyngham's Appeal
Supreme Court of Pennsylvania
Appeal from the Court of Common Pleas of Northampton county: In Equity: Of January Term 1868. The proceeding in this case was a bill in equity by Peter S. Michler against The Farmers’ and Mechanics’ Bank of Easton, filed February 11th 1865. The plaintiff died after the answer had been filed and an examiner appointed, and on the 12th of November 1866, Thomas D. Conyngham, his administrator, was substituted.
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Appeal from the Court of Common Pleas of Northampton county: In Equity: Of January Term 1868. The proceeding in this case was a bill in equity by Peter S. Michler against The Farmers’ and Mechanics’ Bank of Easton, filed February 11th 1865. The plaintiff died after the answer had been filed and an examiner appointed, and on the 12th of November 1866, Thomas D. Conyngham, his administrator, was substituted. The bill averred the following facts: — On the 16th of January 1861, Michler was considerably indebted to the bank on his own account and was liable as endorser for others. On that day he…
1Opinion of the Court
The opinion of the court was delivered, by
Sharswood, J.
The demurrer to the bill was properly over-
ruled by the court below. It may be that in the case of a simple pledge of merchandise, stock or securities for an existing debt, or an advance made upon them at the time, the remedy of the pledgor at law is full, complete and adequate: 2 Story’s Eq., § 1032. But when the pledge is, as in this case, collateral security for the payment of all claims, liabilities and demands, which the pledgee then held or might thereafter hold against the pledgor, and these claims and liabilities are alleged to…
2Cited by12 opinions
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- Learock v. PaxsonSupreme Court of Pennsylvania · 1904
- McGeary v. JenkinsSupreme Court of Pennsylvania · 1898
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